Mutual of Omaha
Reverse Mortgage Specialist
Call Rick Today: (503) 312-2675 or (707) 321-3424
What is a Mutual of Omaha Reverse Mortgage?
Rick May can help you decide if it is right for you.
In 1988, President Reagan signed the modern FHA-insured reverse mortgage program into law to help “property-rich,” but cash-stressed senior homeowners finance their retirement and continue to live in their homes. This way, they get to use their equity – their own money – immediately instead of having to sell what has become an unaffordable home.
Many senior homeowners share a similar challenge: insufficient income or investment cash flow for things they want or need: medical bills, everyday living expenses, a much-needed vacation, a new car, and more. Rick May understands these challenges and appreciates helping seniors accomplish their goals and meet their needs. He’s been doing it for years!
A reverse mortgage, also known as a Home Equity Conversion Mortgage (HECM), is a home loan only for senior homeowners, age 62+. With a reverse mortgage, you’ll enjoy a more comfortable retirement without mortgage payments and have regular access to your hard-earned existing home equity without having to sell your home. Rick explains how a reverse mortgage works here, but first…
Imagine getting these remarkable benefits of a Mutual of Omaha reverse mortgage:
- Remain in your own home with no house payments as long as the borrower(s) or a surviving spouse lives in the home or until you sell it.
- Access your equity – tax-free: take funds in a lump sum, a line of credit, or in structured monthly payments.
- Use your equity for literally any purpose at all: supplement your income, pay for healthcare, buy a new car, make home improvements, invest it, or… You name it. It’s your money, so you can do anything you want to do with it!
- Maintain your financial independence without needing help from children, etc.
You can even use a reverse mortgage for jumbo loans for homes valued up to $10,000,000 to refinance a current mortgage or to purchase a new home. If you don’t already have a mortgage, getting a reverse mortgage enables you to take advantage of its benefits.
Visit Our Learning Center
To learn more before you talk with Rick, click a topic or visit the Learning Center for information and video answers that address these questions and more in greater detail:
Meet Rick May – Reverse Mortgage Specialist
Rick is a state licensed mortgage professional and has been helping older homeowners arrange reverse and traditional mortgages for the past 35 years. He is the father of three grown children, granddad to two, and enjoys being outdoors and spending quality time with family and friends. Rick got his start in Mortgage Planning in 1984 and has worked with thousands of home buyers and homeowners, helping with home purchase and refinance mortgage loans. During these years, Rick also helped many adults age 62 and over obtain an FHA insured Reverse Mortgage. After seeing the tremendous benefits that seniors enjoyed from an FHA insured Reverse Mortgage, Rick decided to devote his entire mortgage practice to senior homeowners. He realizes that there are a few popular misconceptions and in some cases, confusion about the Reverse Mortgage line of credit. Read More
Three Simple Questions
When you speak with Rick, he’ll ask these three simple questions to determine how much equity you’ll be able to access with a reverse mortgage refinance on your primary residence.
- What is/will be the age of the youngest borrower?
- What do you owe on your current loan?
- What is your estimate of the value of your property?
Basic Eligibility: If you are 62 or older and your home is your primary residence, you may be eligible for a reverse mortgage (HECM). If you will be 62 soon, now is an excellent time to start planning for a better retirement. Ask Rick how much money you can get with a reverse mortgage and be on your way to a better, more comfortable, less stressful retirement.